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- DeFi Kingdoms is challenging Axie Infinity with its P2E and NFT gaming.
- Known as GameFi, blockchain gaming exploded in 2021.
The enthusiasm around blockchain-based play-to-earn games in 2021 has proved the interest and scope, with both new and existing initiatives aiming to inject new life into the industry. Known as GameFi, blockchain gaming exploded in 2021. There has been a boom in play-to-earn gaming, as well as advancements in technology that have made games more enjoyable.
Axie Infinity (AXS), which expanded by over 17,000 percent last year as millions of gamers went on to breed, fight, and accomplish missions in this virtual world, pioneered the notion of play-to-earn gaming. In 2022, Axie may or may not be able to maintain its position as the number one ranking in the world. In any case, as blockchain gaming grows, it’s a good idea to keep an eye on them.
Investors and developers in the blockchain gaming business will need to develop new value propositions to keep the market growing and attract new investors. These are some of the top GameFi projects to look out for as we have already kickoff 2022.
Axie Infinity
This is a no-brainer since it’s one of the biggest and most rapidly expanding GameFi projects. It has a market cap of $2,959,843,079 USD according to CoinMarketCap. There are an average of 120,000 daily gamers using the protocol’s rare and premium NFTs.
Axie Infinity is a decentralized play-to-earn (P2E) platform launched by a Vietnamese firm called Sky Mavis. Users may engage in the platform’s decentralized governance and contribute to its development or use AXS tokens to make a financial investment, which has increased by 17,000 percent in the last year. In Axie, users are rewarded with Smooth Love Potion (SLP) tokens, which serve as the platform’s currency, which they can spend to improve the traits of their pets, acquire more pets, or convert to real-world money. Axie Infinity promises to deliver and expand further and is the one to watch out for in 2022.
DeFi Kingdoms
DeFi Kingdoms is challenging Axie Infinity with its P2E and NFT gaming on the Harmony One blockchain in the blockchain gaming arena. Heroes, the platform’s variant, are fictional characters that users may utilize in missions to win and accumulate additional tokens. The player may customize this kind of NFT to suit their playstyle better and maximize their chances of success in a task.
According to data from Dappradar, a decentralized finance (DeFi) activity tracker, the number of users of Defi Kingdoms has grown more than 300% in the last month. Also, the number of transactions in the network has more than doubled in the same time, reaching 7.32 million.
Illuvium
It’s no surprise that Ethereum-based Illuvium has made the cut after enjoying a meteoric rise in 2021 in terms of trading volumes, users, and transactions. Illuvium is an open-world role-playing video game where players seek and capture deity-like beings called Illuvials throughout a large and diverse environment. The native token, which can be traded for other tokens or cash, is a reward for capturing these characters. It is in beta testing right now and will be launched in the first quarter of 2022.
The Sandbox
In November, the Sandbox, Decentraland, and Axie Infinity led the drive in the decentralized game metaverse. Members of the Sandbox community may rent and monetize virtual “voxel” items and exchange and collaborate with one other.
The value of the Sandbox token, $SAND, has increased by more than 10,000% in the last year, and it now trades at $3.77. Due to the platform’s rapid expansion, more gamers are turning to the service, which offers free software for players and producers to create and develop gaming assets and experiences on the platform itself. The assets and affairs are then sold on a marketplace, and the participants are paid a passive income for their time and efforts.
Guild of Guardians
ImmutableX, the first layer-two solution developed on Ethereum that focuses on NFTs, is used in Guild of Guardians, one of the most anticipated blockchain games of 2022. It will be a free-to-play mobile role-playing game based on P2E concepts to increase accessibility.
In-game items in Guild of Guardians may be traded, much as in other blockchain games like Axie Infinity. The project’s NFT founding sale and token launch generated approximately $10 million in volume, making it a popular choice for gamers and investors. The Guild of Guardians (GOG) tokens, ERC-20 tokens known as ‘gems’ within the game, were launched in October of 2021. In-game NFT minting and market interaction are made possible via gems, which players may acquire while playing.
Conclusion
By 2023, the GameFi sector hopes to significantly impact the conventional gaming market, which is predicted to expand to $200 billion. Even though it still has a long way to go before reaching the regular gaming environment, play-2-earn games may prove to be the ideal entry point for further acceptance in the crypto-verse.